Question: 1. The moving average forecast is the forecast that is based on the average of the last T periods, where we call the time of

1. The moving average forecast is the forecast that is based on the average of the last T periods, where we call the time of the T periods the forecast window. The moving average forecast assigns the same weight to all observations outside the forecast window. Question: A pizza chain has had sales for take-out food over the last four evenings- Monday, Tuesday, Wednesday and Thursday - of 29,25,35 and 30 pizzas, respectively. What would be their forecast using a three- day moving average forecasting approach? 2. The term "lean" was coined by the management scholar James Womack following his study global automotive industry in general, and the success behind the Toyota Production System (TPS) in particular. The term lean reflects the operation's goal to eliminate waste from the system. Question: After just having waited for an hour in the waiting room of your doctor, you complain to the manager of the practice. The manager explains that because of the cost pressure in health care, the practice would now be managed in a lean way. To keep doctors, nurses, and equipment efficient, the practice wants to minimize the idle time of these resources. To do so, the practice always, has a number of patients waiting. Which part of the lean operations does the practice ignore
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